Thread by @biconomy

What’s a Relayer Network?

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Make a guess... Who are the unsung heroes of #Web3?

Not your micro-cap gaming tokens or💩coins for sure.

We'd like to think that Relayer Networks are the invisible MVPs of Web3 💪🏼

What are Relayer Networks exactly?

Let's dig in!

A 🧵👇🏼

2/9

A Relayer takes individual orders and organizes them into an order book.

It's similar to what exchange does.

Except, a Relayer is NOT an exchange.

A Relayer helps users create, sign, or find orders to fill without holding any tokens.

Yes😯, just WOW.

3/9

2 key definitions👇🏼

A 'Relayer Network' is a way to send meta-transactions to an EVM-compatible chain using a third party's infrastructure.

A 'Meta Transaction' has data created and signed off-chain by one person and executed by another person who pays the gas fees.

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In other words, ‘Relayer Networks’ allow users to transact on-chain while having a third party’s account pay for their gas fees.

Why does this matter?

Remember how the goal of Web3 is to decentralize all on-chain interactions including buying, selling, gaming etc?

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Let's be brutally honest: Current interactions on Web3 are clunky.

It takes developer thinking and cryptography chops to navigate complex transactions.

A classic pain point: Users now need multiple steps to confirm or approve a transaction.

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Let's list the turn-offs:

🚫 Paying gas fees for each transaction
🚫 Gas fees needing to be paid in native tokens
🚫 You might need to buy said tokens 👆🏼
🚫 Difficult onboarding — need to pass KYC, download a wallet etc

What were we doing again?

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With 'Relayer Networks', users can:

✅ Enjoy smoother onboarding
✅ Pay gas fees with a variety of tokens
✅ Transact without deep Web3 knowledge
✅ Get transactions confirmed faster and more securely

🔥🎉🚀

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As you know, Biconomy helps dApps build towards decentralization.

1️⃣We receive transaction info and signature from users
2️⃣We pass it on to target chains by signing the transactions
3️⃣We pay for gas to execute transactions

We’re a Relayer Network with a Gas Tank option.

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Balances are topped off, with fees to be paid directly by the platform.

Users never have to manage the transactions.

See how Biconomy Co-founder and CTO @schin_tomar explains 'meta-transactions'! 👇

coinmarketcap.com/alexandria/glo…